MNI BRIEF: Fed Risks Soft Landing If It Doesn’t Cut - Goolsbee

MNI BRIEF: EU Parliament Backs Von Der Leyen For 2nd Term

MNI: ECB LEAVES KEY DEPOSIT RATE UNCHANGED AT 3.75%

MNI China Daily Summary: Thursday, July 18

MNI BRIEF: China To Upgrade Rural Land Reform: 3rd Plenum

MNI BRIEF: China's Third Plenum Eye's Deeper Financial Reform

MNI: FED BALANCE SHEET TOTAL ASSETS -$16B TO $7.208T IN WEEK

MNI: US TSY TICS NET FLOWS IN MAY +$15.8B

US Treasury Auction Calendar

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Price Signal Summary - Another ATH In S&P E-Minis

MARKET INSIGHT
  • On the equity front, S&P E-minis outlook remains bullish. The contract has traded to a fresh all-time high of 4513.25 today and the move higher confirms a resumption of the uptrend. The focus is on 4542.58, 1.236 projection of the Jun 21 - Jul 14 - 19 price swing. EUROSTOXX 50 key support has been defined at 4078.00, Aug 19 low. The outlook is bullish while this level holds.
  • In the FX space, the USD remains in an uptrend and recent weakness is still considered corrective. The recent move below 1.1704, Mar 31 low in EURUSD opens 1.1621 next, 1.00 projection of the Jan 6 - Mar 31 - May 25 price swing. Resistance at 1.1805, Aug 13 high has been probed. Further gains would open 1.1829, the 50-day EMA. GBPUSD remains vulnerable despite last week's bounce. The focus is on the bear trigger at 1.3572, Jul 20 low. Resistance is at 1.3786, Aug 18 high. The Aug 20 price pattern in USDCAD was a bearish shooting star candle and the Aug 23 weak close reinforces the current bearish theme An extension would expose 1.2526, the 50-day EMA.
  • On the commodity front, Gold maintains a bullish tone following last week's breach of the 50-day EMA. The break signals scope for a climb towards $1834.1, Jul 15 high and a bull trigger. WTI futures support has been defined at $61.74, Aug 23 low and conditions remain bullish. Further gains would open $70.74, 764.% retracement of the Jul 30 - Aug 23 sell-off. Support is seen at $66.92, the Aug 25 low.
  • In FI, Bunds support at 176.21, Aug 11 low was cleared on Aug 25, highlighting a short-term bearish theme. The focus is on 175.41, the 50-day EMA.
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.